School Specialty Gets Ch. 11 Plan Confirmed

Law360, Wilmington (May 23, 2013, 9:35 PM EDT) -- School Specialty Inc. won confirmation of its Chapter 11 plan Thursday, with a Delaware bankruptcy judge giving the green light to a reorganization that will see the educational supply company emerge from court protection owned by its noteholders.

Having worked out creditor concerns beforehand, School Specialty faced only an objection from the U.S. trustee at the confirmation hearing, opposition that the company overcame by agreeing to trim the number of parties that would receive releases under the plan.